As Kuwait tries to curb its dependency on hydrocarbons, which accounted for over 90% of state revenues in 2017, other industries are coming into focus. Excluding refined petroleum products and nuclear fuel, manufacturing industries’ contribution to GDP rose by 6.2% in 2017 to $5.6bn, according to the central bank. Meanwhile, refined petroleum products and nuclear fuel’s portion of GDP expanded by...
Kuwait Industry
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As hydrocarbons forms the backbone of Kuwait’s economy, the resurgence in global commodity markets bodes well for the future and has led to a renewed sense of optimism. The recovering market is also supporting the government’s diversification efforts under the auspices of the Kuwait National Development Plan, or New Kuwait.
Economic update | Kuwait takes steps to encourage industrial growth and export competitiveness
5 Oct 2018
A new GCC accreditation for Kuwait’s laboratories, coupled with the release of more than 1000 parcels of industrial land, should boost government plans to increase industrial output by 25% in the coming years.
Articles & Analysis | Government plans to expand Kuwait's industrial sector from The Report: Kuwait 2017
The state-owned oil industry is by far the largest sector in Kuwait’s economy, representing more than half of GDP, 95% of exports and roughly four-fifths of state revenues. As oil and its byproducts are used to make more than 300,000 products globally, the country’s petroleum-based industries and petrochemicals hold significant growth...
Interviews & Viewpoints | Faisal Awwad Al Khaldi, Deputy CEO, Kuwait Steel: Interview from The Report: Kuwait 2017
How can private sector industrial and manufacturing companies help diversify Kuwait’s economy?
Articles & Analysis | Kuwait's petrochemicals segment broadens its product base from The Report: Kuwait 2017
In September 2016 Mohammad Al Ajmi, director-general of the Public Authority for Industry, announced plans to boost Kuwait’s industrial output by 25% in the coming years. Although the state controls nearly 101bn barrels of proven crude deposits, the drop in oil prices has compelled the government to push ahead with a host of economic reforms...